Flagstar Bank, National Association (NYSE:FLG) Stock Gets Price Target Reduction from Cantor Fitzgerald

Flagstar Bank, National Association (NYSE:FLG) had its price target lowered by Cantor Fitzgerald from $17.00 to $16.00 in a report issued on Wednesday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

A number of other equities analysts also recently weighed in on FLG. DA Davidson reissued a “buy” rating and issued a $17.00 price target on shares of Flagstar Bank, National Association in a report on Monday, July 27th. Weiss Ratings upgraded shares of Flagstar Bank, National Association from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. Royal Bank Of Canada reduced their price target on shares of Flagstar Bank, National Association from $15.00 to $13.00 and set a “sector perform” rating for the company in a research report on Friday, October 9th. UBS Group began coverage on shares of Flagstar Bank, National Association in a report on Tuesday, July 7th. They set a “buy” rating and a $18.00 price objective for the company. Finally, Piper Sandler lifted their price objective on shares of Flagstar Bank, National Association from $16.50 to $17.50 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Flagstar Bank, National Association currently has an average rating of “Moderate Buy” and a consensus target price of $15.96.

Flagstar Bank, National Association Stock Down 1.5%

FLG stock opened at $11.08 on Wednesday. The stock’s fifty day simple moving average is $12.77 and its two-hundred day simple moving average is $13.74. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.43. Flagstar Bank, National Association has a 1-year low of $10.57 and a 1-year high of $15.44. The stock has a market cap of $4.60 billion, a P/E ratio of 140.62 and a beta of 1.05.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings data on Friday, July 24th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The business had revenue of $512.00 million during the quarter, compared to the consensus estimate of $539.34 million. During the same quarter last year, the company earned ($0.14) EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. Analysts expect that Flagstar Bank, National Association will post 0.28 EPS for the current year.

Flagstar Bank, National Association declared that its Board of Directors has authorized a stock repurchase plan on Friday, July 24th that permits the company to repurchase $250.00 million in shares. This buyback authorization permits the company to buy up to 4.1% of its shares through open market purchases. Share buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Flagstar Bank, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Monday, September 7th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, September 4th. Flagstar Bank, National Association’s dividend payout ratio is 133.33%.

Institutional Trading of Flagstar Bank, National Association

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Flagstar Bank, National Association by 9.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock valued at $88,645,000 after buying an additional 569,003 shares during the last quarter. North Reef Capital Management LP bought a new position in shares of Flagstar Bank, National Association during the 1st quarter worth $36,744,000. SG Americas Securities LLC increased its holdings in Flagstar Bank, National Association by 14,586.4% in the 1st quarter. SG Americas Securities LLC now owns 2,098,389 shares of the company’s stock worth $27,636,000 after acquiring an additional 2,084,101 shares during the last quarter. Polar Asset Management Partners Inc. increased its holdings in Flagstar Bank, National Association by 36.8% in the 1st quarter. Polar Asset Management Partners Inc. now owns 1,626,388 shares of the company’s stock worth $21,420,000 after acquiring an additional 437,939 shares during the last quarter. Finally, Interval Partners LP purchased a new stake in Flagstar Bank, National Association in the 4th quarter worth about $11,632,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Flagstar Bank, National Association Company Profile

Flagstar Bank, National Association is the principal banking subsidiary of Flagstar Financial, Inc (NYSE: FLG). The bank provides a range of financial services to consumers, businesses and institutional clients, including deposit accounts, residential and commercial lending, consumer loans, credit products and treasury management services.

Flagstar also has a significant mortgage banking business, offering home purchase and refinancing loans through retail, broker and correspondent channels.